Seems that millions are always either filing for bankruptcy or always in debt & most of the time it's b/c alot (not all) people are not financially responsible & expect a free ride with these credit cards. Then they act as if they are not suppose to pay the money back. I think if people are not going to be responsible then maybe it's time credit cards should be eliminated. The deadbeats are making it very hard for those who are responsible. What do you think?
2007-11-12 04:04:05 · 7 answers · asked by Scooter_loves_his_dad 7 in Business & Finance ➔ Credit
And before anyone bashes me no I'm not a supporter of these jerk collection agencys that make life miserable for many people in debt.
2007-11-12 04:07:41 · update #1
If you are financially responsible. You wouldn't use credit cards period. Every time you use it you get into debt.
They make all the rules and can change the rules anytime they want.
Oh, i need a credit card to "build credit".
Bull!. People obsess with this credit score bull.
The only people that need to obsess with the I love debt score are the ones that plan on borrowing lots of money and paying lots of interest.
If you live on less than you make you will win with money.
A bad credit score from not paying your bills is a bad idea. A 0 credit score from not borrowing money will still get you an apartment and a job and a home loan (manual underwriting).
Debt Free is Definitely the way to Be!
2007-11-12 04:27:34 · answer #1 · answered by heybulldog 5 · 1⤊ 1⤋
That is definitely a problem...people file bankruptcy, clear out their debt then turn around n get another credit card from some off the wall place n the circle continues. I totally agree...they have access to wether a person has filed bankruptcy before or not. If they can't handle it the 1st time, what makes em think they will the 2nd time?That's part of the reason returned checks have such a high fee on them now. There is too much irresponsibility these days.
2007-11-12 13:20:17 · answer #2 · answered by PJ ~88~ FAN 6 · 0⤊ 0⤋
I think that a lot of people get credit cards in an attempt to build some form of credit. They don't understand the literature and just take the first offer they can! The problem is that maybe they misjudged what they have spent for the month and then when they can't pay it off they end up with 25% interest to pay on top and from there they start to spiral out of control. I think that credit card companies and most loan companies, those with variable rates and negative ambertized loans are only in buisiness because of the lack of knowledge from their clients. They thrive on unknowledgable people to build thier futures!
2007-11-12 12:24:20 · answer #3 · answered by semisweetened 3 · 0⤊ 0⤋
You do know that credit card companies thrive on these so called deadbeats. The companies want as much as they get from their customers via fees and interest. The deadbeats are the ones with the highest montly interest rates and the one with the highest outstanding balance.
If it weren't for these deadbeat customers, many credit card companies would be out of business.
2007-11-12 12:09:28 · answer #4 · answered by pokemike01 4 · 2⤊ 0⤋
Credit card companies should be a lot more selective about who they give a card to, and who they give a high limit too. Many people use credit cards responsibly.
2007-11-12 12:16:05 · answer #5 · answered by Judy 7 · 1⤊ 0⤋
I believe it is in the best interests of the credit card company issuing credit to those individuals. considering the insurance they take out on a person who faild to make payment. I believe thats how the credit companys make their $ So its a win lose situation. You fail to pay your screwed, they take an insurance clam on you for the missed payments and you feel the weight of bad credit. people must learn the hard way.
2007-11-12 12:09:54 · answer #6 · answered by Gubba 2 · 1⤊ 0⤋
Yes, I do think they should be taken away.The person should also have to take a mandatory finance class.
2007-11-12 15:45:35 · answer #7 · answered by rachel b 1 · 0⤊ 0⤋